Herbert Cook, Other/Just Looking in 37398

how much is the total closing costs in florida?

Asked by Herbert Cook, 37398 Fri Feb 5, 2010

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Closing costs will change depending on the lender you choose and the title and escrow company that are used for the transaction. The Seller will usually choose the title and escrow company so depending on who they choose, the costs will change. Costs will also change depending on your purchase price. If you're not pre-approved already that should be the first step, then you can ask your lender for a rough estimate.
1 vote Thank Flag Link Fri Feb 5, 2010
It all depends on the loan amount (if you're financing), purchase amount, the title company fee and the broker/bank/lender fees.

My husband and I own a mortgage brokerage and we always make sure that all closing costs are paid by the seller, so that our client didn't have to come out of pocket.

If you want to email me the purchase amount you're talking about, i can send you a sample HUD of closing costs you can expect from a transaction like that. My email is eo@oceanhomesrealty.com


Elena Ollick
Amerivest Realty
Faith Home Loans
1-800-801-6080
239-443-5400
239-206-5400
eo@oceanhomesrealty.com
skype: napleshomes


Free Loan Prequal
0 votes Thank Flag Link Sat Feb 6, 2010
Murray, you could be right. I just always hear people saying that lender costs are negotiable. I know that FL is unusual in that who customarily pays for title varies by county. If a seller really wants to sell, they could pay for title. There are various things that sellers are offering these days to get people to buy their home.
0 votes Thank Flag Link Sat Feb 6, 2010
I think Michael is referring to who pays which closing cost items (buyer or seller). The question is about the TOTAL closing costs, which I understand as all the closing costs combined. Then again, some people don't include costs associated with the mortgage/loan as part of closing costs so I think the question needs some clarification before it can be properly answered, other than to say closing costs will vary from transaction to transaction and there is no One-Size-Fits-All.
0 votes Thank Flag Link Sat Feb 6, 2010
Michael, I find it interesting for you to say that certain of the closing costs are negotiable. Do you feel that the realtor commission is negotiable as well?
0 votes Thank Flag Link Sat Feb 6, 2010
One other variable is the location of the property. Many developments in my area charge a small percentage of the selling price to every buyer to go toward the capital account of the HOA.
0 votes Thank Flag Link Sat Feb 6, 2010
In addition to the two good answers below, closing costs also depend upon the terms of the contract.
0 votes Thank Flag Link Sat Feb 6, 2010
Herbert, closing costs are a true variable in Florida. If it is an all cash deal with the seller paying for title insurance and it is not in a PUD(planned unit development) the buyers closing costs could be a few hundred dollars! If it is a financed purchase it can rise significantly. It all depends on your lender, who pays title, etc.

Many of these costs are negotiable.

Hope this helps.
0 votes Thank Flag Link Fri Feb 5, 2010
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